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MEEW A/S RECEIVES APPROVAL FOR LISTING ON SPOTLIGHT STOCK MARKET

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MeeW A/S (the “Company” or “MeeW “) is a Danish tech venture builder in the field of technology, digitalization and automation. The company develops IT-services for clients, inhouse tech brands as well as invests in start up tech companies. MeeW was founded in 2017 with headquarter in Copenhagen.

The subscription period in the offer, totaling DKK 18,5 million, runs from 21 February 2023 until and including 7 March 2023. MeeW has received pre-subscription commitments amounting to approx. DKK 9.3 million and guarantee commitments amount to approx. DKK 5.55 million, in total approx. DKK 14.85 million corresponding to approx. 80 percent of the Offer. The memorandum is available at MeeW’s (www.meew.dk), SeaHouse Capital ApS’s (www.seahousecapital.dk), Nordic Issuing AB’s (www.nordic-issuing.se), and Spotlight Stock Market’s (www.spotlightstockmarket.com) websites.

Armin Kavousi, CEO, comments

“Both the staff, management and board of directors are very excited and happy to have been approved for listing on Spotlight Stock Market. The group has grown a lot from when we started a few years ago and our journey has just begun. To be in the public eye as a listed company will hopefully only bring positive opportunities for us when Meew continues on our growth journey and international expansion.”

Carl-Henrik Nordberg, Head of Listings, Spotlight Stock Market
“It is with great pleasure that we welcome MeeW A/S as our newest member to Spotlight Stock Market. To be able to raise capital in a traditional IPO when the financial markets are struggling with all current geopolitical events and high inflation is a sign of strength and shows that good companies and quality always are of interest for investors.”

About the Company and motive for listing and IPO

MeeW operates as a tech venture builder in the field of technology, digitalization, and automation. Until now, its main focus has been on building its own tech brands, developing IT services for clients and backing tech pioneers through investments. The focus of the Group is fully on these core businesses and thus growing MeeW as an entity while scaling the subsidiaries, investments, and brands. MeeW experiences an increased demand for its brands, services, and investments, especially in the fields of consultancy services and academy program.

The issue proceeds are mainly intended to increase sales activities and marketing efforts through MeeW STUDIOS, as well as finance each brand belonging to the Group in order for them to go to the market. This will in turn create value to the existing business, and thus contribute to MeeW’s continued growth and expansion.

The net proceeds of DKK 16 million are intended to finance the following activities, ordered by priority:

  • Scaling the subsidiary MeeW STUDIOS in terms of recruitment, increased sales activities, and increased marketing efforts (30 percent).
  • Personnel costs and other operating expenses (16.5 percent).
  • Recruitment of a “Head of” for each brand that will be launched during 2023 and 2024 (10 percent).
  • Allocate capital for each subsidiary belonging to the Group in order for them to launch and execute their own go-to-market strategy (25 percent).
  • Marketing and sales activities for each brand owned by MeeW (18.5 percent).

Summary of the Offer

  • Subscription period: 21 February 2023 – 7 March 2023.
  • Subscription price: DKK 8,25 per share. The minimum subscription post is 500 shares, corresponding to DKK 4 125.
  • Issue volume: The Offer comprises no more than 2,242,424 shares and no less than 1,800,000 shares, equivalent to respectively DKK 18,5 million and DKK 14,85 million before deduction of transaction related costs.
  • Valuation (pre-money): Approx. DKK 40,3 million.
  • Pre-subscription commitments: The Company has received pre-subscription commitments of approx. DKK 9.3 million, corresponding to approx. 50.3 percent of the share issue volume and guarantee commitments of approx. 5.55 million corresponding to approx. 29.9 percent.
  • Lock up: The Company’s existing shareholders, including members of the Board of Directors and executive management, who together own 100 percent of the shares in MeeW, have entered into binding lock up-agreements prior to the planned IPO. The lock up-agreements also applies to any shares purchased and allocated in connection with the IPO. This means that the relevant shareholders undertake not to sell any of their respective shareholdings in the Company for at least 12 months from listing on Spotlight Stock Market. However, shareholders with less than 10 percent ownership, will be able to sell 10 percent of their shares during the lock up-period. 14.6 percent of the capital and shares are held by shareholders with less than 10 percent ownership. Hence, 74.7 percent of the shares are covered by the lock up agreements.
  • Number of shares before the share issue: 4,886,300 shares.
  • Expected first day of trading on Spotlight Stock Market: 16 March 2023.
  • Ticker and ISIN: MEEW and DK0062268413

For more information, please contact:

Carl-Henrik Nordberg, Head of Listings, Spotlight Stock Market

Phone: +46 8 511 68 077

E-mail: listings@spotlightstockmarket.com

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